Auto theft rate drops to lowest level since 1960

Vehicle owners should continue to be vigilant against theft, GEICO
says

December 15, 2014 06:04 AM Eastern Daylight Time

WASHINGTON--(EON: Enhanced Online News)--Car owners worried about lease payments, maintenance headaches and other
problems can finally enjoy some good news when it comes to their
vehicle. A recent
report released by the National Insurance Crime Bureau (NICB) found
that car owners are statistically less likely to become victims of auto
theft today than at any other time since 1960.

“That said,
auto theft will continue to be a threat that vehicle owners will have to
protect themselves against in the future. There are thieves out there
keeping up with technological advances and finding other ways to steal
cars.”

The auto theft rate per 100,000 people, which steadily rose from 180 in
1960 to a peak of 659 in 1991, has decreased almost every year since. In
2013 the rate per 100,000 people dropped to 221, according to the report.

Improvements in law enforcement efforts are a big reason for the decline
due to enhanced collaboration and coordination between theft
investigation agencies. Technological features such as automatic alarms,
remote door mechanisms and other anti-theft devices are also major
reasons for the lowered theft rate, according to NICB.

"It's a really encouraging sign for drivers that the vehicle theft rate
has decreased the past few decades after topping out in the early
1990s," said Ryan West, GEICO's vice president of claims. "That said,
auto theft will continue to be a threat that vehicle owners will have to
protect themselves against in the future. There are thieves out there
keeping up with technological advances and finding other ways to steal
cars."

NICB cited key theft, rental vehicle theft, fraudulent financing and VIN
switching as new methods of auto theft that are on the rise.

GEICO
(Government Employees Insurance Company) is a member of the Berkshire
Hathaway family of companies and is the second-largest private passenger
auto insurance company in the United States. GEICO, which was founded in
1936, provides millions of auto
insurance quotes to U.S. drivers annually. The company is pleased to
serve more than 13 million private passenger customers, insuring more
than 22 million vehicles (auto & cycle).

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